According to Woofun AI, the Bitcoin network recorded 11,255 transactions in a single block, setting the second-highest transaction volume record in history. This phenomenon was established by the mining pool AntPool block No. 974,961 generated at 6:24 p.m. (Coordinated Universal Time, or 3:24 a.m. on the 8th Korea time). Its transaction density far exceeded normal levels, marking a significant shift in the pattern of activity on the BTC chain.
The block's space utilization rate is 99.85%, the actual data size is about 1.1 megabytes, and the block weight reaches 3,993,844 WU, which is close to the maximum limit of 4 million WU. However, this high density did not translate into significant economic benefits; the total processing fee received by miners was only 0.002405 BTC, or less than 0.08% of the basic mining reward of 3.125 BTC.
According to data compiled by Woofun AI, 1,585 transactions had a processing fee of less than 1 satoshi per virtual byte, and such low-fee transactions occupied about 87.7% of the block space. This structural characteristic shows that a large number of transactions are concentrated in a limited space, mainly due to the launch of Runes (Rune Protocol) in April 2024. The protocol allows the issuance and transmission of alternative digital assets on the Bitcoin network. Recently, the issuance of Runes tokens has generated a large number of small transactions with small data volumes, which has boosted the number of transactions per block. In contrast, the 367,853 block excavated by F2Pool on August 1, 2015 set an all-time high of 12,239 transactions. Although the current values follow, they are fundamentally different.
It is worth noting that a surge in single-block transaction volume is not equivalent to an increase in overall network usage. Bitcoin's average daily transaction volume was around 71,400 in October last year, but dropped to around 53,420 between November 1 and 7, a decrease of about 25%.
This data contrast reveals that the current peak of transactions is not due to the continued expansion of payment demand, but rather the result of changes in transaction structure. Mononaut, the developer of Mempool.space, pointed out that 11,255 transactions set a new record for the second-highest transaction volume in history, and Bitcoin is rapidly approaching the highest transaction volume record set in 2015, but this is more a reflection of the technical architecture's ability to accommodate small amounts of data.